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Bitcoin's Short-Term Outlook Faces Pressure; Long-Term Growth Still Intact
Bitcoin continues to face rejection around the $110,000 level, pulling back slightly to $108,200. The break below the short-term ascending trendline and trading under the 100-hour SMA signal rising short-term selling pressure. The nearest support lies at $107,500 – $106,500; a break below this zone could send the price lower toward $104,200. Still, the medium-term outlook remains bullish, supported by 9% global money supply growth and expectations for a rally toward $117,000–$160,000 in the coming year. The price is moving sideways within a range of approximately $105,281 – $110,587, following a strong rebound ... (full story)
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